Sellers, it takes money to make money...

If you are thinking of selling your house, you are probably moving for a reason. It is usually a life event, but sometimes it is just because you have become weary of the never-ending maintenance and need for updates!

Before you list your home--leaving all that annoying deferred maintenance and the needed updates for the buyers--let me give you some reasons that you might want to reconsider.


1. Visible deferred maintenance is a red flag for buyers. If we can see all this work that hasn't been done what else is there that we can't see?
2. Most of the time your home will be competing with others to become the one the buyer wants. If you were buying, would you buy the one that was most run-down or that needed all new heating/AC/fixtures and a roof? Probably not if you had a choice.
3. Sure your home is dated; you have lived in it for 25 years. It is probably one of the reasons you want to move. Consider, however, if all your neighbors have been updating along the way, your old linoleum and flowery borders might put off some potential buyers.

When you decide to sell, you would be wise to set an update budget (and it will likely  be more than a couple of hundred dollars, depending on the price point and condition of your home).  This budget should go first toward obvious deferred maintenance (trim work, exterior painting and repair, window repair/replacement, grout and caulk repair). Cleaning and or replacing carpet and refinishing hardwood floors would be next. If there is still money (and you should probably try hard to make sure there is some), you should paint where necessary and replace old fixtures that are either failing or are ugly. There are many more things that should be done when preparing a home to go on the market, but these things are the bare minimum!

This is by no means a comprehensive list.  Remember, it is much harder for a buyer to love a rundown home than one that has been taken care of and has some updates.  If you list it just the way it is, be prepared to take an under-market value offer. Just like anything else, you do need to invest some money to make money!!!

 

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I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

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